NEW YORK & OAKLAND, Calif.--(EON: Enhanced Online News)--Pandora (NYSE:P), the world's most powerful music discovery platform,
and Downtown Music Publishing, the leading music rights management
company for the digital age, today announced a multi-year licensing
agreement for Downtown Music Publishing’s catalog of musical works. This
direct publishing deal creates business benefits for Pandora, while
modernizing compensation for Downtown Music Publishing and its
songwriters in the U.S.

“I am excited for our partnership with Downtown”

“This agreement with Pandora is a milestone in our ongoing mission to
deliver equitable, accurate and timely payments for our songwriters,”
said Justin Kalifowitz, founder and chief executive officer, Downtown
Music Publishing. "It also serves as a reminder that songwriter
royalties are best negotiated in a free market. We’re looking forward to
working more closely with Pandora in optimizing this agreement and know
that, in the words of Cy Coleman, ‘the best is yet to come.’”

“I am excited for our partnership with Downtown,” said Brian McAndrews,
chief executive officer, Pandora. “Pandora is committed to bringing
long-term growth to the music business, and working with the talented
and diverse songwriters on Downtown’s roster will contribute to that.”

While specific terms of the multi-year agreement are confidential, the
companies worked together to build an innovative approach to publisher
economics. The deal allows Downtown Music Publishing to obtain its goal
of delivering improved performance royalties for its songwriters, while
Pandora will benefit from greater rate certainty and the ability to add
new flexibility to the company's product offering over time. The public
performance royalties Pandora also pays to rights holders of master
recordings are not affected by this agreement.

ABOUT PANDORA

Pandora is the world's most powerful music discovery platform - a place
where artists find their fans and listeners find music they love. We are
driven by a single purpose: unleashing the infinite power of music by
connecting artists and fans, whether through earbuds, car speakers, live
on stage or anywhere fans want to experience it. Our team of highly
trained musicologists analyze hundreds of attributes for each recording
which powers our proprietary Music Genome Project®,
delivering billions of hours of personalized music tailored to the
tastes of each music listener, full of discovery, making artist/fan
connections at unprecedented scale. Founded by musicians, Pandora
empowers artists with valuable data and tools to help grow their careers
and connect with their fans.

Downtown Music Publishing is one of the leading rights management firms,
with offices in New York, Nashville, Los Angeles, London, and Amsterdam.
The company's catalog spans over seven decades of popular music,
including the works of such diverse writer/artists as The Beatles, John
Lennon & Yoko Ono, Cy Coleman, The Kinks, Randy Newman, Hans Zimmer,
Mötley Crüe, Jewel, Neon Trees, and One Direction.

OAKLAND, Calif.--(EON: Enhanced Online News)--Pandora (NYSE:P), the largest music streaming service in the U.S., today announced an organizational restructuring designed to prioritize its strategic... more »